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Belgium Signs TIEA With Bermuda,
by Phillip Morton, Investors Offshore.com
Thursday, December 10, 2009
Didier Reynders, Minister of Finance for Belgium, and Paula Cox, Bermuda's Prime
Minister, concluded a Tax Information Exchange Agreement on behalf of their respective
countries in Brussels on December 8.
Commenting on the agreement, Cox said that Bermuda’s proposed
treaty with Belgium is one more example of Bermuda moving swiftly to expand
upon its role in the global financial network, to strengthen and deepen its
relationships with other financial centers, and to exceed the expectations of
international bodies such as the Organization for Economic Cooperation and Development
(OECD).
“In addition to concluding negotiations with Belgium, this week Bermuda
is acting as Co-Chair of the OECD Global Forum Steering Group in Paris,”
Cox continued. “Bermuda was elected to this internationally prestigious
and influential position at the meeting of the OECD Global Forum in September
of this year. In each respect, both in exceeding international standards of
information exchange and transparency by concluding tax information exchange
agreements such as with Belgium, and by taking a leading role in international
bodies that set global tax policy, we are adding to the attraction of Bermuda
as a leading domicile for international companies and affirming our long-standing
position as a leader in international business," she said.
Belgium concluded a similar agreement with
the Bahamas on December 7.
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